Top 5 States for Foreign Homebuyers—Where Nearly 50% Are Paying Cash for Homes

Foreign buyers are pulling back from the U.S. housing market, with spending near a record low, but some states are still seeing booming interest.

International buyers spent $45.3 billion from April 2025 to March 2026, closing on 67,100 existing homes nationwide, according to the National Association of Realtors® 2025 International Transactions in U.S. Residential Real Estate report. The organization said the dollar value of those homes was down 14% from the previous 12 months.

Though purchases are down, five states remain popular among foreign buyers: Florida, California, Texas, New Jersey, and Georgia.

The share of foreign buyers who made all-cash purchases was 47%—compared to 28% among all buyers of existing homes.

Of those who bought real estate in the U.S, about 56% of those purchases were people living in the U.S., with those recent immigrants or visa holders buying 37,600 homes and $21.8 billion in value. Foreign buyers living abroad purchased 29,500 homes worth $23.5 billion.

Lower spending comes in a year when international currencies gained ground against the dollar, making real estate more accessible. Wealth tax in California left open more opportunities for international buyers. And the World Cup brought visitors, even as soaring fuel costs cut some travel.

“The decline in foreign home buyer activity mirrors the decline in international visitors and tourists to the United States,” said NAR Chief Economist Lawrence Yun said. “Even a slightly weaker U.S. dollar over the past year, which provides more purchasing power for foreigners, did not induce more activity.”

Canada remains the top source of foreign capital, accounting for 16% of all international buyers, while buyers from Mexico represent 14% of those transactions. China dropped to third place, at 11%, but Chinese buyers purchase significantly higher-value real estate, averaging $1 million.

Among the international buying population:

• Canada: 16% of buyers. 10,700 homes and $5.2 billion in volume. Average price: $486,000.
• Mexico: 14% of buyers. 9,400 homes and $5 billion in volume. Average price: $531,000.
• China: 11% of buyers. 7,400 homes and $7.6 billion in volume. Average price: $1,027,000.
• India: 9% of buyers. 6,000 homes and $3.7 billion in volume. Average price: $617,000.
• United Kingdom: 4% of buyers. 2,700 homes and $1.2 billion in volume. Average price: $444,000.

Foreign buyers purchased 67,000 of existing homes. (National Association of Realtors)

Why foreign buyers are drawn to Florida

Foreign buyers accounted for about 20% of property purchases in Florida, 19% in California, and 12% in Texas. They accounted for 4% of purchases in New Jersey and Georgia.

Realtor.com® data show international buyers are eyeing Texas cities as alternatives to California.

The Realtor.com International Demand for the U.S. Housing Market pointed to interest in major metros across all the states, with Miami, Los Angeles, Orlando, Dallas, Houston, Tampa, and Riverside, CA, all among the top 10 by searches.

International investors are eyeing up property in West Palm Beach, FL, according to George Smarjian, Managing Partner of Florida developer IGEQ. (George Samarjian)

George Samarjian, managing partner of Florida developer IGEQ, has seen the Florida market change. His company is part of a team that just broke ground on a 21-story tower in West Palm Beach that includes 181 apartments and the city's first Marriott Tribute Portfolio hotel.

South Florida in particular has long been a popular investment destination for Latin America, he said.

But with the economic growth of the Miami region over the past decade, it has become a global real estate market that stays hot even in economic downturns.

"Over the last few years, West Palm has turned into a market on the radar for a lot of international investors," Samarjian says.

"Just a few years ago, it wouldn't have been considered as viable an option to invest in. We have definitely seen a strong appetite internationally."